Fair FSAs Act of 2020 This bill requires employers to allow employees who separate from employment to elect to receive a distribution from their health flexible spending arrangement. It also allows employees to roll over existing balances attributable to a reduction in expected elective health care expenses in the plan year due to the outbreak of COVID-19 (i.e., coronavirus disease 2019).
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Timeline
Introduced in Senate
Read twice and referred to the Committee on Finance.
Introduced in Senate
Read twice and referred to the Committee on Finance.
Taxation
Cardiovascular and respiratory healthEmergency medical services and trauma careEmployee benefits and pensionsHealth care costs and insuranceIncome tax deductionsIncome tax exclusionInfectious and parasitic diseasesNational Guard and reservesSales and excise taxesTax administration and collection, taxpayers
Fair FSAs Act of 2020
USA116th CongressS-4371| Senate
| Updated: 7/30/2020
Fair FSAs Act of 2020 This bill requires employers to allow employees who separate from employment to elect to receive a distribution from their health flexible spending arrangement. It also allows employees to roll over existing balances attributable to a reduction in expected elective health care expenses in the plan year due to the outbreak of COVID-19 (i.e., coronavirus disease 2019).
Cardiovascular and respiratory healthEmergency medical services and trauma careEmployee benefits and pensionsHealth care costs and insuranceIncome tax deductionsIncome tax exclusionInfectious and parasitic diseasesNational Guard and reservesSales and excise taxesTax administration and collection, taxpayers